Sep 20, 2019

Average U.S. student debt hits record

Illustration: Aïda Amer/Axios

The class of 2018 graduated with a record average of $29,200 in loans to help pay for a bachelor's degree, reports USA Today.

Why it matters: It was unusual to graduate with a high amount of debt a few decades ago, but "we have depressed ourselves into a mindset in which $30,000 in debt is acceptable for a degree," Mark Huelsman, an associate director at the left-leaning think tank Demos, told the newspaper.

The big picture: Some schools are trying to address affordability and debt concerns for the cost of an education, but students often use loan money to cover the cost of living expenses.

  • The University of Michigan and the University of Virginia introduced aid programs to help some students pay for classes.
  • New York offers free tuition at some public colleges for residents whose families earn up to $125,000.
  • New Mexico announced a free tuition plan this week for any state resident who attends a public school.

Yes, but: These plans, like many of the free college proposals floated by 2020 Democrats, are geared toward public institutions — meaning that those attending private universities across the country still have to shoulder the burden themselves.

  • Worth noting: The richest and most prestigious private universities often offer extensive financial aid packages of their own. For example, Harvard and Stanford both expect families that make up to $65,000 to contribute nothing — and Stanford offers no tuition charges for families making up to $125,000.

By the numbers:

  • Two out of three of last year's college grads owe more than 2017's.
  • Students who attended college in the Northeast have the highest average debt.
  • Students in Connecticut had the highest average at $38,650, and students in Utah had the lowest at $19,750.
  • "Black students and those from low-income backgrounds were more likely to have debt at graduation," per USA Today.

Go deeper: Debt-free college: Where the 2020 presidential candidates stand

Go deeper

The wreckage of summer

Illustration: Sarah Grillo/Axios

We usually think of Memorial Day as the start of the summer, with all of the fun and relaxation that goes with it — but this one is just going to remind us of all of the plans that have been ruined by the coronavirus.

Why it matters: If you thought it was stressful to be locked down during the spring, just wait until everyone realizes that all the traditional summer activities we've been looking forward to are largely off-limits this year.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 5,428,605 — Total deaths: 345,375 — Total recoveries — 2,179,408Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,643,499 — Total deaths: 97,722 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. World: White House announces travel restrictions on Brazil Over 100 cases in Germany tied to single day of church services.
  4. Public health: Officials are urging Americans to wear masks over Memorial Day.
  5. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election.
  6. Federal government: Trump attacks a Columbia University study that suggests earlier lockdown could have saved 36,000 American lives.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 5 hours ago - Politics & Policy

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

The CDC is warning of potentially "aggressive rodent behavior" amid a rise in reports of rat activity in several areas, as the animals search further for food while Americans stay home more during the coronavirus pandemic.

By the numbers: More than 97,700 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 366,700 Americans have recovered and more than 14.1 million tests have been conducted.